Insights 2021 | Powering Human Experience

Insights 2021 | Powering Human Experience

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  Insights 2021 Powering HumanExperience Ray Poynter Chief Research Officer
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  © Potentiate 2020 Agenda •The research context • What’s hot & what’s not • Key developments in insights generation • The challenges and threats being faced by insights • Tips for transitioning from 2020 to 2021 and beyond • Q & A Insights 2021 Powering Human Experience
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  © Potentiate 2020 TheResearch Context • Research is not an island – we are in TUNA times • Turbulent, Uncertain, Novel & Ambiguous • May 2020 - review • Scenarios • Winners and Losers • Sneak Peek at research buyers’ global study
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  © Potentiate 2020 TheWorld in May 2020 Most Expectations
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  © Potentiate 2020 TheWorld Today Source: https://www.ft.com/content/a2901ce8-5eb7-4633-b89c-cbdf5b386938
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  © Potentiate 2020 FourCompound Scenarios – May 2020 Virus is NOT Controlled Soon Economy Recovers Soon Economy does NOT Recover Soon Back to Normal-ish, but with lots of deaths Whole new world Virus is Controlled Soon Economy Recovers Soon Economy does NOT Recover Soon Back to Normal- ish Major recession Still True – September 2020
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  © Potentiate 2020 Mostleaders surveyed expect large scale changes in their ways of running their business Most of these changes need (or would at least benefit from) Insights & Research
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  © Potentiate 2020 Whydo organisations need insights? Everybody is flying blind.
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  © Potentiate 2020 Winners •Apple becomes the first $1 Trillion company in August 2018 • Becomes the first $2 Trillion company in September 2020 (stock up 134% in the last year) • Amazon and Microsoft hot on Apple’s tail • Amazon $1.65 Trillion (stock up 80% in last year), Microsoft $1.61 Trillion (stock up 55% in last year) • Walmart • Online sales up 97% on last year, Q2 ’same stores’ sales up 10%, year-on- year (driven by food) • Other winners include • AMD (chip maker), Nvidia (technology), & Netflix
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  © Potentiate 2020 TheResearch Context ESOMAR & Partners, Global Study of Research Buyers Sneak Peek Internal, 38% External, 62% How much research is conducted internally or via suppliers? Increasin g, 42% No Change, 45% Not Sure, 5% Decreasin g, 8% Change in Internal % Note, more than 20 Partners, including Potentiate, study leader – Ray Poynter, sample = 416
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  © Potentiate 2020 Volumeof Work Up, Resources Reduced in Aggregate From Buyers of Insights Study we see: • Quantity of projects clients expect to conduct in 2021 • Increase 59% • Decrease 14% • Change in budget/resources 2020 • Decreased 41% • Increased 22% • Change in budget/resources 2021 • Decrease 29% • Increase 28% The ESOMAR Global Market Research Report expects the global spend on Research to fall in 2020 by 25%, about US $20billion (from $80billion to $60billion). But, we need to be aware that some sectors/companies are doing better – e.g. 22% are spending more.
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  © Potentiate 2020 DoingMore with Less The Key phrase From GRIT, ESOMAR and NewMR Key examples of how companies are doing this include: Using insight communities for a larger share of projects – blending self-serve with outsourcing Using survey engines themselves Automating and using AI to streamline services, for example building text analytics into CX dashboard – giving more insight in less time Integrating projects, sourcing information from the whole organisation Democratising the process, adopting lean and agile approaches Re-processing existing data to find more answers
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  © Potentiate 2020 TheWorld in 2021? • COVID-19 - better, worse or similar? • Vaccine - yes, no or somewhere between • Global Economy – in recession or recovering? • Australian, European, North American economy – same as global, or not • Trade problems (e.g. with China) – probable • Climate problems – probable • Regulatory problems for big data – probable, starting with Facebook and Google (and WeChat & Tik Tok) • Business - a curate’s egg (good in parts, bad in parts) • Cruise liners, airplane manufacturers, pop concerts – not good • Amazon, Apple, online shopping, Netflix – fantastic • Unilever, Coke, P&G etc – could be good, bad, or marginal • Another surprise (ash cloud, war, floods/fires, IT breakdown, terrorism, asteroids, etc) – it always could happen, it usually doesn’t happen
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  © Potentiate 2020 What’sHot and What’s Not Hot! • Digital Qual • Agile • ‘X’ – UX, CX & HX (Human Experience) • Insight communities as default options • Democratising insights • Automation (including AI) • Video
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  © Potentiate 2020 What’sHot and What’s Not Not! • Anything face-to-face • Most shiny new toys • Augmented reality, Neuroscience, Biometrics, Facial Coding • Large-scale tracking studies • Traditional reporting • AI when not involved in automation or augmented intelligence
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  © Potentiate 2020 Keydevelopments in insights generation Automation (including AI) 360-degree view of the customer, client, citizen, viewer (human-centric approaches) Democratising sharing the insights in snackable, accessible formats, couched in the language of the user Integration treating each project as a piece of the jigsaw, rather then a whole picture Less research, more often Using approaches from Lean and Agile – iterative learning, with multidisciplinary teams Measuring and showing the ROI of insights
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  © Potentiate 2020 Thechallenges & threats being faced by insights • Budget and resource cuts • But that is often a consequence of reduced relevance • Establish ROI, answer real problems, offer solutions • The growing need to recognise Diversity & Inclusivity in insights • The regulatory environment for data is going to get stricter • The EU proposes to legislate on AI (and it means algorithms) • Stay informed, use trade bodies to lobby on your behalf • Fighting today’s needs with yesterday’s tactics • Stakeholders don’t care about methods, they want reliable answers • We can’t focus on significance testing, cross-tabs, and ranking scales • We need the equivalent of the change from waterfall to agile, what is our MVP? • The need for speed • Insights are on time, or they are useless – they have to be affordable too
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  © Potentiate 2020 Transitioningfrom 2020 to 2021 and beyond • Do more with less • Blend self-serve and service, integrate your solutions, use your existing research to deliver more (e.g. Communities as a hub, measuring trends with CX, longitudinal analysis of concept tests) • Make better use of existing tools, focusing on speed, stakeholders’ needs, and the requirements of customers as people • Deliver value to the rest of the organisation • Collaborate to deliver agile. Democratise the process. Less research more often. Become iterative and brave. Be the number 1 voice for the customer. Measure the ROI of insights. • Use Automation, AI, Machine Learning, & Standardisation to make your research more efficient (i.e. faster, cheaper, easier) • Focus on tasks, tools & approaches that you can use and re-use – avoid a shiny toy that you might only use once in 2021 • Develop lean approaches, using multidisciplinary teams, less research more often, focusing on the human experience
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  © Potentiate 2020 HX– people at the centre of the enterprise
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  © Potentiate 2020 hx@potentiate.com Thankyou